Daily Market Update: February 20, 2024

February 20, 2024

BTC is currently trading around $51,000 and ETH around $2,900.  Notable gainers in the last 24 hours are FIL, CHZ, and XMR.  The global crypto market cap is $2.03T, down 1.8% over the last day.  DeFi Total Value Locked is ~$76b and BTC dominance is around 53%.

Notable news includes: Hong Kong’s central bank issued guidance for firms offering crypto custody services; the UK Economic Secretary to the Treasury is pushing the UK to complete staking and stablecoin legislation within the next six months; Mumbai launched a metaverse initiative to showcase upcoming infrastructure mega projects; Forbes bought virtual land in The Sandbox to encourage exploration, interaction, and collaboration through interactive experiences, workshops, and events; the CME announced plans to launch euro-denominated micro Bitcoin and Ether futures next month; PostFinance, Switzerland’s fifth largest retail financial institution, partnered with Sygnum to launch regulated trading and custody of 11 cryptocurrencies; Mastercard partnered with emerging markets-focused mobile payments app Swoo Pay to offer crypto loyalty rewards; eBay laid off 30% of its web3 and NFT staff; Silicon Valley tech incubator Y Combinator published a Request for Startups that included a call to build stablecoin companies; ETH hit $3,000 for the first time since April 2022; Starknet’s STRK token began trading today; and, a full set of ten Autoglyphs was sold for 5,000 ETH, making one of the top NFT sales ever recorded onchain.

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Brian Rudick, Senior Strategist | TwitterTelegramLinkedIn

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